Outrights, in FX markets refer to the type of transactions where two parties agree to buy or sell a given amount of currency at a predetermined rate, on a specified date in future.
The rupee was largely flat this week, after gaining 0.4% last week, as likely intervention by the central bank in the spot market offset the impact of strong local shares and a euro-led decline in the dollar index
Euro has been on a splendid run – posting 8 consecutive days of gains till yesterday. It has been a superlative move from 1.0871 to a 3-month high of 1.1386 today.
Indian shares closed higher on Friday, led by gains in financials, with the State Bank of India surging 8% after reporting a more than four-fold jump in its profit for the March quarter.
Rupee spot market trimmed gains due to a euro-led decline in the dollar index
The pound rose to a new three-month high against the dollar in early trading on Friday and was set for its biggest weekly gain since the end of March
The Indian rupee was largely unchanged against the U.S. currency this week
2PM-MYFOREXEYE USDINR-75.58 EURINR-85.75 JPYINR-0.6914 GBPINR-95.64 DXY-96.63 USDCNY-7.0859 GOLD-1708 BSE-34297 BRT-40.61 NSE-10144 DAX-12687 CAC-5122
Rupee Traded Off Highs Suspected RBI Intervention
Indian shares edged higher on Friday, helped by gains in financial stocks and a surge in conglomerate Reliance Industries after Abu Dhabi state fund Mubadala invested in its digital unit.